The shareholder value effects of using value-based performance measures: Evidence from acquisitions and divestments

Knauer, Thorsten; Silge, Lisa; Sommer, Friedrich

doi:10.1016/j.mar.2018.02.001

Cited by 26 publications

(31 citation statements)

References 93 publications

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“…This study confirms the previous findings (Knauer, et al, 2018), but it finds another category, that regards the studies of tools models and technicalities which are the bases for the VBM systems adoption.…”

Section: Picture 1: Tree Nodessupporting

confidence: 90%

“…Representation of the tree nodes Knauer et al (2018) have identified two principal streams of research in which the international debate about the VBM systems is divided:…”

Section: Picture 1: Tree Nodesmentioning

confidence: 99%

“…These systems are used as a fundamental tool for assessing managerial performance and as central measures for the management control systems (Malmi, Ikäheimo, 2003). The fundamental formulation of these systems derives from the theory of agents; VBM is systems for aligning property and management interests, in order to reduce the cost that can be derive from the conflicts of interest (Lovata, Costigan, 2002;Ryan, Trahan, 2007;Firk, et al, 2016;Knauer, et al, 2018;Shultze, et al, 2018). Among these, we can include an important theoretical framework about VBM systems based on a normative approach.…”

Section: Identification and Analysis Of The Dominant Theme Definitionmentioning

confidence: 99%

“…have developed mainly to govern the business' economic value (available to shareholders), to reduce conflicts between shareholder and management (Ryan, Thran, 2007;Schultze et al, 2018). The main goal of VBM is to translate the strategic goals in business' economic value measures, guiding the strategic actions to the superordinate goal of shareholder value creation (Knauer et al, 2018).…”

mentioning

confidence: 99%

“…VBM systems can be defined as a holistic Managerial Accounting Systems (MAS) based on economic value measures that are the base and the guide for strategic decisions (Forker, Powell, 2008) (McLaren, et al, 2016). The fundamental objective of these systems is to translate the strategic objectives in measures of firm's economic value (Knauer, et al, 2018), with the purpose of linking the decisions and strategic choices with the fundamental drivers that explain the business phenomena, in particular the creation of shareholder value.…”

mentioning

confidence: 99%

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Value Based Management Systems and Firm Performance: An Analysis of the Literature

Corazza¹

2019

Managing Geostrategic Issues

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The main purpose of this paper is to analyse the international VBM systems debate, understanding the state of the art in the Accounting literature. According to the systematic literature review process described by Massaro, Dumay and Guthrie (2016), with the use of NVivo software as a fundamental tool for developing the qualitative research, this study tries to identify the main streams of the VBM systems literature. The debate about VBM systems is still open and is focused on three main streams of research: studies focused on the tools, model and technicalities for the VBM systems implementation; studies related on the VBM systems characteristics and its relations with the Firm's characteristics and studies focused on the VBM systems relation with the firm' performance. Literature point out the necessary interrelation between the firm's characteristics and the characteristics of this system. VBM adopters achieve a positive performance effects, in terms of shareholder value creation. Literature' analysis show an important gap, it regards the absence of a theoretical framework for defining and analysing this type of systems and the firm's characteristics. This study tries to fill this gap by analysing the state of the art in the accounting literature, with the scope to understand deeply the origins of the VBM performance effects.Keywords: value based management systems, value based metrics, value based management systems adopters, corporate performance, shareholder value

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Section: Picture 1: Tree Nodessupporting

confidence: 90%

“…Representation of the tree nodes Knauer et al (2018) have identified two principal streams of research in which the international debate about the VBM systems is divided:…”

Section: Picture 1: Tree Nodesmentioning

confidence: 99%

Section: Identification and Analysis Of The Dominant Theme Definitionmentioning

confidence: 99%

mentioning

confidence: 99%

mentioning

confidence: 99%

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Value Based Management Systems and Firm Performance: An Analysis of the Literature

Corazza¹

2019

Managing Geostrategic Issues

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A Critical Assessment of Interrelationship Among Corporate Governance, Financial Performance, Refined Economic Value Added to Measure Firm Value and Return on Stock

Dewri

2021

J Knowl Econ

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Framework for firm-level performance evaluations using multivariate linear correlation with MCDM methods: application to Japanese firms

Aduba

2021

Asia-Pac J Reg Sci

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The shareholder value effects of using value-based performance measures: Evidence from acquisitions and divestments

Cited by 26 publications

References 93 publications

Value Based Management Systems and Firm Performance: An Analysis of the Literature

Value Based Management Systems and Firm Performance: An Analysis of the Literature

A Critical Assessment of Interrelationship Among Corporate Governance, Financial Performance, Refined Economic Value Added to Measure Firm Value and Return on Stock

Framework for firm-level performance evaluations using multivariate linear correlation with MCDM methods: application to Japanese firms

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